All terms

Promise to pay

Promise to pay — A promise to pay, or PTP, is a consumer's commitment during a contact to pay a stated amount on a stated date, logged on the account and used to schedule follow-up and suppress other collection activity until the date passes.

PTP has no definition in the FDCPA, Regulation F, or CFPB guidance located for this glossary; it is a workflow state in collection systems, and its compliance significance is indirect. Two connections are worth tracking. First, a consumer's consent during a telephone conversation can affect call frequency: 12 C.F.R. § 1006.14(b)(3)(i) excludes from the count calls placed with prior consent given directly to the collector, within seven days after consent. Second, on out-of-statute accounts a payment or acknowledgment may revive the limitations period under some states' law, which is why PTP handling on time-barred inventory needs its own scripting and its own suppression of any statement that could be read as a suit threat under 12 C.F.R. § 1006.26(b).

See also

• Disposition codeA disposition code is the standardized value a collector or system writes to an account after a contact attempt, recording the outcome — right-party contact, wrong number, no answer, refusal, promise to pay, dispute, attorney representation — and driving the next scheduled action.
• Time-barred debtA time-barred debt is a debt for which the applicable statute of limitations has expired, and Regulation F flatly prohibits a debt collector from bringing or threatening to bring legal action to collect it.
• 7-in-77-in-7 is the Regulation F telephone-frequency rule under which a debt collector is presumed to comply with the FDCPA's harassment prohibition if it places no more than seven calls to a particular person about a particular debt within seven consecutive days, and none within seven days after a telephone conversation about that debt.
• RemittanceRemittance is the scheduled transfer of collected funds from the firm's trust account to the creditor client, net of the firm's earned fee and any agreed costs, accompanied by an account-level accounting.

Where this appears

• Utah statute of limitations on debt

This is an informational reference, not legal advice, and using it creates no attorney-client relationship. Limitations periods turn on facts this page cannot know — which state's law governs, the contract type, when the claim accrued, and whether anything tolled or revived it. Confirm against the primary source and your own counsel before acting.